Monday, August 03, 2020

Kansas City Paid MILLIONS For It: Dowtown Waddell & Reed HQ Sneak Peek

Kansas City Paid MILLIONS For It: Dowtown Waddell & Reed HQ Sneak Peek

A money line from before the pandemic . . .

"Waddell & Reed, with net income of $1.9 billion between 2009 and 2018 is asked the City Council to approve $44 million of local incentives (along with $62 million in state incentives) to relocate its HQ from Overland Park, KS to Downtown KC . . ."

Now . . .

Improved acoustics, technology all part of new Waddell & Reed headquarters

KANSAS CITY, Mo. - When the financial firm, Waddell & Reed opens its new corporate headquarters in Kansas City, Missouri, in 2022, the office building will have acoustics designed to support employees who are on-site as well as those joining through virtual means.

10 comments:

Anonymous said...

yep, watch all the free cheese non taxpayers whine like achieving bitches that could actually stimulate an economy better. Keep breeding the meth kids and hitting the bumps.

Super Dave said...

Just think of the good things all those millions could be used for.

Anonymous said...

W&R has a market cap of over a billion dollars, yet broke-ass KC and MO gave them over 100 million dollars tax breaks on a 140 million dollar building. So they get a 140 mill building for 40 mill.

Do you get a subsidy on your home or business?

This is welfare. Welfare for the multimillionaire corporate class. They just hire some lobbyists and fund some campaigns and 100 million dollars falls out of the air.

Anonymous said...

No subsidy for most home renters, certainly not from the city. And now the county is eager to evict you into a pandemic if you're broke because of the economic meltdown.

Anonymous said...

Some of those millionaires now pay a 1% earnings tax....correct?

Anonymous said...

Correct... 900 ex-KS employees x 1% = 9 FTE salaries in exchange for, umm 100 million dollars. That would be a trade on the scale of beads for Manhattan.

Anonymous said...

Increased property taxes for Joe average in JaCo, yet a corporate entity worth over a billion dollars gets a 100 million dollar break. Talk about looting!

Anonymous said...

Your spent ten bucks at dollar general and 50 bucks buying a bump from paps does not stimulate an economy or provide employment. Get real.

Anonymous said...

So much for that truce to the border war of poaching companies from the other side of the state line.

#KorruptCity

Anonymous said...

Wadell & Reed's business model is from the 1980s. Not sure how they are going to prosper going forward.